Aadhaar holders have carried out nearly 2.31 billion authentication transactions in March 2023, indicative of the growing usage of the identity card and growth of digital economy in India.
March numbers are better than February when 2.26 billion authentication transactions were carried out. While most of the authentication transaction numbers were carried out by using biometric fingerprint, it is followed by demographic and OTP authentications.
Aadhaar e-KYC service continues to play a stellar role for banking and non-banking financial services by providing transparent and improved customer experience and helping in ease of doing business. More than 311.8 million eKYC transactions were carried out during March 2023, a jump of over 16.3% against February.
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Adoption of e-KYC has also significantly reduced customer acquisition cost of entities like financial institutions, telecommunication service providers, etc. The cumulative number of Aadhaar e-KYC transactions so far has gone past 14.7 billion by the end March 2023.
In March, more than 21.47 million Aadhaars were updated following requests from the residents as against 16.8 million such updates in February 2023.
“Whether it is DBT for direct fund transfer, Aadhaar Enabled Payment System (AePS) for last-mile banking, authentications or e-KYC for identity verification, the document has played an important role in supporting ease of living for residents,” the ministry of electronics & IT said in an official statement.
In March 2023, 219.3 million last-mile banking transactions were made possible through AePS and the network of micro-ATMs.
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